Short Sea continue on positive track (02 December 2020)

It is the third month in a row now with the northern markets gaining momentum and tonnage for loading on spot has become really short in the region. Charterers have few options to cover their stems quickly than offering more money at the few vessels still looking for work although not all trade routes are profiting in the same way. In the North Sea Brexit is hanging as a dark cloud over the shipping industry and UK trade is therefore under pressure. The Baltic is also a lively and strong market with charterers facing problems to find ships for early December loading. From Poland a wheat (45’) cargo of 12,200mt has been concluded last week to Portugal at a spot freight rate of around EUR 13.50/mt and same commodity and loading area heading to Northern Spain has been traded few days later at a freight rate of around EUR 18.75/mt for an 8,000mt parcel. General cargo of 4-5,000mt are rumoured in the range of EUR 32-33/mt loading in the upper Baltic and destination in mid western UK. From Southeast UK a barley shipment of 5,500mt saw a freight rate of about EUR 25.50/mt with redelivery in Sardegna. It seems as if for the rest of the year the situation will offer much of the same for the short sea market in the area at least until the beginning of the Christmas holidays.

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